Was at the Football today and was asking a few of the city worker bods i bump into there what they think.
One guy is something to do with currency and he said the Pound and the dollar are both
Was a little bit complicated but although the pound is doing fine agaisnt the dollar everything currency is doing fine agisnt the dollar. Currencies doing well include the rupee, peso and belive it or not Brazills currency has been the best performing of the last few years.
The US ecomony is buggered for low intrest rates, sub prime and a load of other things which i forget, britan is proped up by being at the moments the worlds bank and sterling untill recently (things may change with recent events and the housing price drop which is just starting as all the people who can not afford to remortage at a decent price) is being used by many of the national banks. Im told the banks are using sterling as one of their choice of forigen currenices but this im told could cause a problem if goverments decide they need to exchange the currency in a hurry, dumping loads of uk currency onto the market.
This could also happen to the peso or one of the other strong currencies where people bet on it droping and dump loads of them onto the market (way to complicated to me to understand in detail) So the peso could suddenly dive for no reason what so ever.
My brain was aching by now and kick off was approaching so i said is the peso likely to carry on agaisnt the pound like this and the consenus seemed to be most likely but i will get more info during the week although its only what they feel may happen from all the data.
The pound is not going to get much stronger once the credit crunch bites in although many seem to be reigning themselves in before christmas so who knows, it will be more up to the phill goverment and events in phill it appears. Which is about as easy to predict as when is the next game where defoe is not caught offside 20 times in one half
